#交易对 Analysis of Centralized and Decentralized Exchanges (CEX vs DEX)

Centralized exchanges (CEX) such as Binance and Coinbase manage assets and match trades on the platform, offering user-friendly interfaces, high liquidity, and fast transaction speeds, making them suitable for beginners and high-frequency traders. However, assets need to be stored on the platform, which poses risks of hacking or fund freezing.

In contrast, decentralized exchanges (DEX) like Uniswap and PancakeSwap use smart contracts to match trades directly on-chain, allowing users to control their assets without third-party custody, making them more secure and transparent. The drawbacks are higher operational thresholds, slower transaction speeds, and insufficient liquidity for some smaller tokens.

Overall, CEX is suitable for stable operations, while DEX emphasizes trustlessness and autonomy, allowing users to flexibly choose based on their needs.